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Tag: Letshego Uganda

  • Official Statement; Letshego Africa Holdings Ltd clarifies on the loan defaulting article published by Nation Media Group

    Official Statement; Letshego Africa Holdings Ltd clarifies on the loan defaulting article published by Nation Media Group

    Letshego Africa Holdings wishes to correct the false headline for the article published by the Nation Media Group on Friday 05 July 2024, “Botswana’s Letshego defaults on Kenya, Uganda loans”.

    Letshego Africa Holdings affirms that the Group has not defaulted nor failed in the servicing of any of its obligations in any of its subsidiaries.

    “We confirm that claims of default on the part of Letshego Kenya and Uganda are false and incorrect”.

    The Group’s Annual Results for 2023, first published on 22 March 2024, affirmed that the Group’s Expected Credit Loss (ECL) methodology had been adjusted, impacting 2023 results and resulting in the restatement of 2022 financial results. As a result of these adjustments and other areas of judgement, the Group breached some covenants with some of its funders which are disclosed fully in our Integrated Annual Report for 2023.

    Roger Mugisha Shillingi – Corporate Affairs Lead Letshego Uganda reassures all stakeholders that were deliberate about honouring ALL our loan obligations across subsidiaries

    Beyond the covenant breaches, the Group has not failed on its debt obligations. For the two subsidiaries falsely and incorrectly mentioned by the media house, Letshego wishes to confirm that they did proactively engage with their funders and obtained formal ‘letters of no action’ for the covenant breaches.

    Letshego Africa Holdings remains well capitalised and in a solid liquidity position. The Group wishes to take this opportunity to thank its stakeholders, including funders and investors, for their ongoing partnership and commitment in supporting the Group’s pan-African
    inclusive finance strategy.

    For further factual information and official public releases, please visit
  • Letshego Uganda unveils its Micro Supa Loan product to Women and Youth during Women’s Day Celebrations in Bushenyi

    Letshego Uganda unveils its Micro Supa Loan product to Women and Youth during Women’s Day Celebrations in Bushenyi

    Bushenyi: Letshego Uganda, a leading microfinance institution and subsidiary of Letshego Africa Holdings Ltd today spring boarded their Micro Supa Loan product during the two day Women’s Day celebrations organized by Hon Annet Katusiime Mugisha, Bushenyi Woman MP at St. Kaggwa Primary School playgrounds.

    Letshego, is thrilled to announce its Micro Supa loan, specially designed for women and youth intended to provide accessible financial solutions fostering entrepreneurship and economic growth.

    “Empowering women and youth is crucial for the sustainable development of our communities. Through the Micro Supa loan, we are not only providing access to capital but also fostering a culture of entrepreneurship and self-reliance. We believe that by investing in women and youth, we are investing in the future prosperity of Uganda,” Giles Germany Aijukwe, Letshego Uganda CEO affirmed.

    Minister of Local Government Hon Raphael Magezi tours Letshego stall during Women’s Day celebrations hosted by Hon Annet Katusiime Woman MP Bushenyi at St Kaggwa Primary School as Letshego unveiled its Micro Supa Loan tailored to Women and Youth

    The Micro Supa loan is a testament to Letshego’s dedication to addressing the unique financial needs of women and youth in Uganda. With flexible terms and competitive interest rates; whether it’s starting a small business, pursuing education, or investing in personal development, the Micro Supa loan offers the necessary financial support to turn dreams into reality.

    “We are excited to partner with Letshego to bring this innovative financial solution to the women and youth of Bushenyi. Access to finance is a fundamental right, and initiatives like the Micro Supa loan are essential for leveling the playing field and unlocking the potential of our communities. Together, we can create a brighter future for all,” Hon Annet Katusiime Mugisha explained.

    During the two-day engagement, “Letshego will showcase the features and benefits of the Micro Supa loan through interactive sessions, workshops, and one-on-one consultations. Participants will have the opportunity to learn about financial literacy, entrepreneurship skills, and how the Micro Supa loan can help them achieve their goals,” Dennis Mbiika, Head of Sales, Marketing and Channels retorted.

    As Letshego continues its mission to drive financial inclusion and empower marginalized groups, the introduction of the Micro Supa loan marks a significant milestone in its journey. By providing accessible and affordable financing options, Letshego is paving the way for a more inclusive and prosperous society.